The Reserve Bank of Australia (RBA) has cut interest rates by 0.25 percentage points, lowering the cash rate for the first time in more than four years.
It’s now 4.1 per cent.
If you’re on a variable rate, this means your repayments will decrease too, if and when your bank passes along the rate cut.
This repayments calculator shows how much you could save each month in the wake of the cut.
Plug in your current loan size, term and interest rate to see the difference.
Individual lenders decide how much of the RBA rate cut to pass on and this estimate does not factor in any bank fees or charges, so check with your lender to get an exact amount.
Loading…
If you’re unable to load the form, click here.
